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tv   Markets Now  FOX Business  November 29, 2012 1:00pm-3:00pm EST

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>> i am melissa francis. >> i am lori rothman. so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress.
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melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchanged line. and then you have people saying how the white house has had a change of tune. this is the type of environment we are in. as far as the big pitcher goes,
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the market is showing some resiliency considering we have had weeks after weeks of worries on the fiscal cliff, and yet we're still pulling off some up arrows. take a look at cold and macy's. both have come under some pressure. noting hurricane sandy, macy's same-store sales fell, also mentioned sandy as well. kohl's down 10%. lori: thank you, nicole. an upward revision appeared tonight, but our next guest expects growth to decline for the fourth quarter. deutsche bank security nominee with his outlook for next year, and if we get to it, some expectations on continued stimulus which we heard this
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week as well. this was the second print out of three on third-quarter gross domestic product. looks like a nice upward provision. about 2%, but if you look under the hood there are some serious problems and i will let you start there. >> a little bit of fine print. consumer spending was revised lower, business investment in equipment and software. for the upward revision was due to a lot more inventory being accumulated last quarter, partly due to a faster pace of economic activity. not the strengthening in the number we would like to see. lori: does it suggest go to the softening consumer picture, people are not buying stuff simply put question marks >> there is a wait-and-see attitude. not only for the capital investment, but also in terms of the pace in hiring.
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i think a lot of folks were waiting to see what happened to the election and what happened with the eventual revolution of the fiscal cliff would be. lori: there is no resolution. it comes to installing pace is any at all at least today, does a lot of economists that fear this concern and all the dialogue about the fiscal cliff is already starting to hurt the economy, do you agree? >> you see that with the investment spending, and it can only get worse as we get closer to the end of the year as everybody holds their breath in the economy collectively, we have big problems. lori: one thing was the incredible amount of government spending especially on defense. one of the biggest issues is concerning. >> the issue really is what happened in the current quarter and going into the beginning of next year.
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other types of discretionary spending is as well. the total is $600 billion, the economy simply cannot withstand that sort of shock. we saw a week underlining detail report. know the economy will be soft in the current quarter due in part to hurricane sandy but also the slower trends in the various components. lori: 1.7 is the consensus estimate of expansion, what are you thinking? >> we're forecasting 1.3%. in the ballpark of 1.7 before hurricane made landfall. more of a ceiling than a floor at this point. lori: anything good to look forward to? >> things don't look all that bad next year. one of the key reasons when next
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you will be a little bit different is the housing market is finally recovering. sales volumes are picking up, home prices are increasing. tremendous impact. lori: great. always great talking to you. even though most of it was disappointing. melissa: still no progress on the fiscal cliff talks and capitol hill. senator reid and speaker boehner are waiting for serious offers and specific plans from the other side. peter barnes with the latest. >> despite the dueling press conferences, one democratic leader, chuck reed, excuse me, chhck schumer of new york says there is progress being made behind the scenes for a deal to avoid the fiscal cliff. publicly the two sides still sounded miles apart after talking to president obama last night for 15 minutes and meeting with secretary geithner for more than half an hour. john boehner said the two sides have made no progress on a deal.
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he wants to see more spending cuts from the democrats, but the democrats punch back and said it is republicans who aren't making any serious offer on more tax revenues. >> so right now all eyes on the white house. the country does not need a victory lap, it needs leadership. tell the american people with spending cuts they are willing to make. >> if it happened, it will be under the leadership of the house. for a balanced agreement, we need republicans to come forward with something. >> speaker john boehner said this is a moment for adult leadership, a stab at the president there. melissa: my goodness.
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i understand mitt romney is coming to the white house for that lunch. i don't know, what is everybody expect to come from that? >> the president said the president wanted to talk to governor romney about ideas to make it more efficient. praising the management of the 2002 olympics, said he did a good job there. governor romney is one that raised the ideas happen deductions for tax for people to come up with as far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead
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congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who
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claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet hash tag bad ideas. thank you, dennis. lori: what is going on? melissa: you haven't been shopping. lori: luxury jeweler not looking very pretty today. the trade at the nyse coming ahead. melissa: is andrew mason the right person to run it groupon?
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melissa: as we do every 15 minutes, let's check the market, nicole petallides on the floor of the new york stock exchange. you're looking at a couple of big movers down there. nicole: some good news, some not such good news. starting out with research in motion. one of the big ones. goldman sachs coming up with a buy rating, a new price target of $16 up from $9. in their view, they think the straight overall, all the analyst put together are too low, not given enough credit to the library 10 coming out on january 30. the talk note risk reward that can be quite good, result we are seeing so far. does not really capture the potential, that is wh when theyt a buy rating and that is why the stock is up 6%. on the other hand they're watching tiffany's, the luxury retailer coming to the downside because same-store sales are losing, asia has been a loser for them, even the more reasonable area, the silver
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jewelry has dropped off. it is not working right now. melissa: nicole, thanks so much. new york attorney general taking action against 12 gas station operators in new york city, long island and westchester putting price gouge in the wake of hurricane sandy. inhibiting excessive increasing the cost of a central good light gas. one case ther your attorney genl is for waiting over an hour three pumps away when he was being charged $50 for a gallon of gas, $10 per gallon in contrast. stations charging $3.95. also get gas tanks and cannons being sold on craigslist that had like a gallon of gas people wanted $100, people were calling and responding.
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melissa: people were hoarding it for their generators. melissa: said if we just let the market fluctuate, we would have had shortage. lori: in the meantime make some money with charles payne joining us with what you need to know to make some money and be up to speed. charles: the judges for letting the market do its thing. jessica simpson pregnant again. now lindsay lohan, she is arrested again. i just left the club before she began swinging. i hear that she might come you can argue she is the most effective celebrity spokesperson of all time. move over william shatner. when she was three years old she did commercials for pizza hut,
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gap and cello. -- jell-o. since then, look at this precocious little girl, megastar and i think she is right instead of buyyng the products, i will buy the stock. it is a stretch. yum up 835% since nixon to seven, gap stores, and craft up 450%. you can argue she can go out and say i am marketable, look at what happens long-term when companies use me so maybe her career is not over. lori: you should be her agent. she needs a better one. charles: her last one was proactive. this trivia question, where was she born? lori: in long island? i just absorb this information.
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charles: she was born in the bronx. 1986. i was born in manhattan. lori: learn something new about you everyday. melissa: we have to get together more often. we will work on yours next. charles payne, thank you so much. lori: learn more about knight capital. charlie gasparino has the latest on a story he wrote. melissa: the city of detroit careening toward bankruptcy, but that one way to save the city actually be dissolving it? take a look at how the dollar is faring heading out to break against other major currencies around the world. we will be right back.
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and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certied. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> right now is 23 minutes past the hour. this is your fox news minute. it has been a week and george h. w. bush still in methodist hospital with a lingering cough. the condition is not life-threatening and doctors initially concerned the illness could turn to pneumonia, but it
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hasn't. u.s. embassy in cairo clothes in public services early today because of the protest going on in the city. urging u.s. citizens to avoid the area. the egyptian community votes on a new constitution today despite the power grab by president mohamed morsi. parliament members voted earlier to keep sharia law as the main sport of legislation there. how about the lucky folks who struck it really big? only two tickets matched the powerball tickets last night. the prize is $579.9 million with $379.8 million cash option which to me is like 380 million anyway.
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melissa: i had one number. lori: i am rich in great colleagues. employees of knight capital say an eerie silence have descended over the company with competing bid for the trading outfit. charlie gasparino with latest on the future of knight capital. >> if i won, guess it would not be making this call to break the news. no, i did not win. i do not gamble. here's the thing, what is kind of interesting is we have not yet gotten sort of a pressure release by virtue of what is offered. i have a lot of calls, it is owned by viola, former nymex ceo. that is kind of weird. another preservation's last
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night, another discussed terms, but you generally get a press release or official bid. we don't have that yet, so we are waiting on that. the other thing we should point out is tha getco's offer, how wl they get at $3.50? you have to take their word at it, they have to squeeze some savings to get that. i capital has $1.2 billion in costs, they can basically expense it, squeeze that down pretty significant and i think that is what getco is saying to shareholders, we can make it $3.50. worth at least $3.50. that said, i can tell you by speaking to people close to the board that the board is favoring an all cash bid. waiting to see what it is. if he comes close to $3.50, say $3.20, i think they hit the bid.
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in all cash bid at $3.20, $3.25. and the other thing, the future of tom joyce. under the getco bid, he is essentially out. nonexecutive chairman, which means you are done. even under the virtue bid, can't imagine he will be there very long. i think he stays through transition and leaves. if he gets this deal, he can revive his reputation after the trading glitch and all the stuff that nearly blew up the firm. he knows the market, he can be replacement of one of the ceo ceos. if they decide to do something else, he is a guy that could step into one of those jobs because he knows exchanges. that is what we know right now. we're clearly waiting, it is an eerie silence.
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lori: oth suitors and in vowels. >> that is pretty wild. my name ends in a vowel. see you guys. melissa: turmoil breaking a three-day losing streak, will it hold onto the gains? talking guy fiscal cliff deal. lori: thank you for reminding me i was saying goodbye to charlie. groupon prices down 80% since going public. the very latest as the board of groupon meet. and look at the winners and losers on the s&p 500. want to try to crack it? yeah, that's the way to do it!
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lori: dow is up 44. they are back above significant moving averages for all you technical chart watchers out there. nicole, the markets hitch on every word out of capitol hill and fiscal cliff but on earnings still. >> that's right. there is still so much going on here. i saw a headline going by that the markets remain tethered to the fiscal cliff talks. certainly we're seeing market reaction to each headline out of washington but also these earnings. let's talk about some of these names here, looking particularly at kroger the large supermarket company. revenues beat the street. i just did a long term search, it is a multiyear high actually for kroger which is up more than 4% so to highest levels we've seen
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since 2009. they also raised their full-year earnings forecast. they have seen consumers boosting their purchases and that is because food prices have actually come down some. that is some good news there for kroger. as far as la-z-boy, their shares have been under some pressure. their results for the third quarter missed analysts expectations. they have been working on marketing campaigns. they do think that is delivering strong results. think reinstated quarterly dividend. that is good news since they haven't done so since 2008. they're underpressure after missing the numbers, down 12%. back to you. melissa: nicole, thanks so much. oil on track to snap a three session losing streak even though speaker boehner says there hasn't been a any real progress on fiscal cliff talks. phil flynn from price futures group, what is driving oil today? >> no doubt we're not tethered to the fiscal cliff. we're swinging on the rope back and forth. this risk on, risk off, fiscal cliff done, not done,
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has definitely tighten the market. there is more hine moves in oil today. we had some really good economic data but also here in the united states. that was very strong. we're look at tension in the middle east. we have the ongoing story. the concerns about iran and egypt still running very, very hot makes it more dangerous to be short. now the other good news that we did get, if you remember yesterday we saw a big pop up in heating oil and gasoline because of the power outage at the hess refinery in port reading in new jersey. we did get good news on that front. that is supposed to be fixed. production will start up right away. should be normal. that puts downward pressure on heating oil and gas. good news in the wild ride on the fiscal cliff. melissa: phil, real quick what is going on with nat-gas? we're freezing here in the northeast. >> it is balmy outside what are you talking about? it is so warm. i'll tell you what, this goes to show you the
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incredible production that is happening. we see rig counts went up last week but they're down 45% on the year. we're so much more efficient producing gas. melissa: sure. >> it is building supplies and temperatures not as cold as advertised. melissa: phil, thanks so much. >> thank you. lori: phil sounds like he was screaming at someone. melissa: a little under the weather. we wish him well. lori: of course. groupon, was it just a fad? the future of groupon ceo andrew mason may be in jeopardy as the social website's board decides on the fate and strategy for the company. shibani joshi joins us with the latest on one struggling company, shibani. >> i have to tell you only one number investors care about when it comes to keeping management in place and the overall gross prospects of the company and that is the company's stock price. if you look at groupon's stock price since the ipo pretty damting evidence against andrew mason. it is down 75% since it
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debuted in 2011. there were rumors, ouster rumors started circulating in the market and the stock price went up 12%, pretty much indicated shareholders would be a-okay getting rid of the founder and ceo of groupon, andrew mason. a lot of reasons not just the stock price to get him removed from the top office. the company failed to show blockbuster growth. it posted a third quarter loss of 3 million bucks. it is having a hard time growing its business and keeping top management. with that said, there are a number of reasons he could keep his job. first he built one of the fastest growing companies in business period. he executed ipo at that time was the largest since google. he has a founders passion that is not easy to replace especially in the technology business and he has been creatively expanding the business. you know that founder's passion i think is one. key reasons they could keep him. overall, what the board will be looking at, a number of
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routine business matters. it is a routine board meeting that is being held today. they will talk about normal stuff and also possibly replacing him at the top. it is up to them to decide ultimately what happens to him going forward. lori: shibani, many thanks. it is being hailed as the greatest breakthrough in air travel since the invention of jet flying at 4,000 miles per hour. melissa: and this guy, south korean singer, i like him. should he be person of the year? i think so. "time" magazine candidates and lou dobbs. [ male announcer ] the markets keep moving. make sure the news keeps coming
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>> i'm robert gray with your fox business brief. stocks are shrugging off earlier losses and well off session lows but still sensitive to comments out of wash on the fiscal cliff. the market slid after house speaker john boehner said there was little progress being made in the budget negotiation. the u.s. economy grew at a faster pace than initially thought. third quarter, grow mow destick product or gdp expanded at 2.7%, slightly below expectations but topped the initial estimate. >> entrepreneurship in the u.s. jumped 60% in 2011 from the prior year. more than 7 million u.s. adults running their own business or starting their own shops. the study found the first up stick in entrepreneural activity since 2008. that is the latest from fox business network, giving you the power to prosper
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lori: breaking news from d.c. capitol visitors center is being evacuated. we're heading straight back to peter barnes to the latest what is going on. peter? >> lori, we have fire trucks on capitol hill after there was an audible alarm, one or two of them in the capitol visitors center, a popular tourist destination here. the structure has been evacuated. streets around the capitol had have been closed off. according to our colleague at fox news there are nine fire trucks on sight right now, multiple pumpers, hooks and ladders. a senior security official tells chad they still don't know what prompted this alarm. if we find out more we'll get it right to you, lori. lori: such a busy tourist time of year. peter, we'll check back in. melissa: who is 2012's person of the year? "time" magazine out with the list of candidates and lou dobbs is here with his take.
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what do you think? >> so nice of you to invite me to join you for a discussion of this. as i look at the time list, the possibilities here, i mean i'm really struck by bashar assad, roger goodell. kim jong-il. these are names automatically you assume would go together. i can't find a person in here who, mario draghi, the head of the european central bank is sort of my personal favorite because he is -- probably with no offense to him, the driest person here, the least well-known and perhaps as has most influence on events on the year arguably --. lori: may not be a longshot though. remember last year, "time" magazine showed the pru tester. >> people were talking about that in the summer. melissa: without question. >> it was such a brilliant choice. melissa: i think it is hysterical how, well, i don't know i guess i'm so
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cynical but they pick this group, right? >> big smile on your face. melissa: but i laugh when i'm cynical. this isn't funny to me. this is how i enjoy myself. they put the list out there and they say we'll let of course your vote counts. by the way vote as many times as you want. at end of the day we'll pick who the winner is although you have a big influence on it so come to our website and vote on it. we're partially to blame because here we are talking about it. a lot of people they put up to cause controversy and get people talking and go to the site and vote for someone else. i would like to be in the room looking for the votes to see how much they put in that. i would vote for lou dobbs. >> that is so thoughtful. melissa: what do you think? lori: oh, i second that thought, hands down. lou done. -- dobbs. >> was this a set up to get to that? i have to tell you what a wonderful choice. melissa: yeah. lori: you know something? you transcend, we they had showed the celebrities, i'm
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not as cynical. i'm trying to make --. melissa: she is not as cynical. that's why we're a good pair. lori: you summed it up right there. you want to find people who transcend popular culture, celebrities and world leaders. it is a tough thing to do. who is really making their mark on the tone and sentiment of the world today. you saw psy and everybody is laughing about his gang nam style dance. hey, sexy lady song. melissa: can you do the dance for us. lori: i won't on camera. i'm doing it during the commercial break that is little embarrassing. it brings people together and relate to it and laugh about it and be cynical and generous or be entire attend. >> i like the concept of generosity and i appreciate the generosity of both of you, thank you, lori, thank you, melissa, for putting my name in nomination complete with cover. i don't think we have to go beyond that. melissa: yes. i think besides lou i would also, who is obvious choice,
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could be somebody who made us laugh. it has been a long, tough, serious year. i mean, laughter, i could go for that. or we could get somebody who did something really heroic during hurricane sandy. there were so many rescue workers out there risking their lives in those waters to save other people. >> interesting idea of a planet of some 7 billion people and in a country of almost 320 million people, to pick one. what a conceit, isn't it? that one person is so important as to have is or her face plastered across a magazine which is, by the way, --. melissa: yeah, that is the problem right there. >> you know one thing? it will not be the editor of "time" magazine that will appear. lori: something to aspire to. melissa: there you go. lori: i'm motivated. melissa: thank you, lou. >> lovely idea. i want to thank you, again. i will treasure this honor and this cover forever. lori: send you a copy of the
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video. >> that will not be in my office. melissa: plastered all over the place and online as well. lou, we see you every day at this time at 7:00 and 10:00 p.m. eastern. tonight you catch senator richard shelby who will have an up date on exactly what is going on with the fiscal cliff. >> ranking member of the senate banking committee. one of the most astute political leaders and observers. lori: wall street likes the idea of lou as man of the year. the dow is up as we've been talking almost 50 points. let's check the markets once again with nicole. she is on the floor of the stocks exchange. apple shares giving a lift to the markets along with mr. lou dobbs. >> we have to give lou dobbs plenty of credit. "time" magazine arrived at my door with lou dobbs on the cover i would be perfectly fine about that. let's talk about apple. apple is on the move to the upside. we talked about the iphone five getting approval in china. this is a really big deal because some of the experts would say the recent selloff
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we've seen in apple because of the delay getting the iphone five over to china. with this, this obviously would give them a whole broader new market and interestingly enough a lot of the analysts have been very hot, these are my friends from florida. show your iphones. they're huge lou dobbs fans. >> lou. >> right? >> i phone is hot. >> citigroup with a price target of $675. we're certainly getting a lot closer to the 600 mark and maybe ultimately back to the 700 mark which is the awl-time highs. these are my friends from fforida with iphones. back to you. melissa: welcome. nice to see you. there you go. lori: states fighting back against the president's new health care law putting the, putting onus back on the federal government. i didn't know that is how you spell it. melissa: court is in session. judge andrew napolitano is here. that is coming up next. it's a new day.
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melissa: arizona becoming the 7th state to reject its option to set up a state health insurance exchange. therefore defaulting to the federal government and creating a headache for d.c. joining us is fox news senior judicial analyst and author of, theodore and woodrow, how two american presidents destroyed constitutional freedom. who else but judge andrew napolitano joining us now. very exciting new book out of the good for you. >> thank you, thank you very much. it makes the argument just
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in brief, if i could --. melissa: yes. >> a lot of our woes today, government thinking it can write any law, regulate any behavior, tax any event, woefully in debt began with a republican and democrat who hated each other and ran against each other 100 years ago in the progressive era, theodore roosevelt and woodrow wilson. melissa: we're looking at giant government overreach? >> we're suffering today what they did magnified many times. i don't think they could imagine all the debt we have today. i will give you one number. woodrow wilson borrowed $100 million to finance world war i. we're still paying interest on the debt. it has not been paid back. that's when it began. melissa: tell me about the health care law. arizona is one of the states kicking it back to the feds. >> when congress enacted the law and president obama signed it said to the state it will raise taxes yourrown taxes and establish an insurance exchange for people that can't or won't
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get insurance elsewhere. and if you don't do so, we will do so for you and take the cost of it from what we owe you for other obligations we have to you, medicare, medicaid, et cetera. supreme court says that is coercive and you can't do that to the states. you can tell them to set up exchanges and they can tell you to go take a hike and pay for it yourself. that is basically what is happening. melissa: why wouldn't every single state do it again? they don't set up exchange? they don't pay for it? >> that is great question. some states have governors like one which we sit right now who are part of the establishment that created obamacare and are in favor of it and want to cooperate with washington. other states like arizona are not part of that establishment and and don't want to cooperate with it. say to the federal government, arizona doesn't need this. if you think they need it, you pay for it. the you is us. it is all the taxpayers. instead of arizona paying for arizona's healthcare and new jersey paying for
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new jersey although governor christie hasn't revealed publicly what they will do all the taxpayers pay for. experts on the economy you are, paid for by borrowed dollars. take this long to pay this back as debts from world war i it will be another 100 years. melissa: at least. more than that. judge, i wish we had more time. thanks so much. >> pleasure. thanks for having me. lori: come back soon. from motown to no town? facing lots of fiscal issues the city of detroit may be forced to dissolve into wayne county. state senator wayne jones says all the options must be on the table to avoid detroit becoming largest city in u.s. history to file bankruptcy. it needs $30 million in funding in escrow. government rick snyder refused until certain milestones and agreements are met. detroit is expected to run out of cash by mid-december. will the city actually be dissolved? we'll ask michigan state senator rick jones when he
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joins us at this time. don't miss it. can you imagine, no detroit? detroit dissolving? it will not happen. it is interesting phenomenon. melissa: i don't think it will vanish. it will get on a bigger scale as well. what will happen to california in the long run? if you look at budget crisis that is a big one. from tea with the queen to dinner in the outback british engineers unslal -- unveiling a new engine that create speeds up to 4,000 miles per hour which can get a passenger from london to australia in four years. the near 12,000 mile trek is possible that quickly because the engine can be cooled at superfast speeds without creating ice blocks. that is interesting. jets can fly as high as 92,000 feet and may take passengers to space. a normal aircraft cruises at 35,000 feet just for reference. lori: charge you for peanuts and first bag and whole thing. melissa: without question. and they will still lose your luggage. coming up tonight on "money",
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congressman peter roskam and inside details on fiscal cliff and what nobody else is talking about and what the public doesn't know. we'll find out at 5:00 p.m. eastern. lori: fiscal cliff is the bottomless abyss. melissa: it is but we'll find out the real deal. lori: more coming up on the fist call cliff. tracy byrnes and ashley webster speak with former senator pete domenici. stay with us on fox business.
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tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. standoff on the fiscal cliff. both side say the other needs to get serious about making a deal. the question is who will flinch first? tracy: former senator and debt reduction task force co-chair pete domenici is here. stocks twisting and turning on every word out of washington.
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we'll hear from a top strategist to protect your investments amid all the volatility. ashley: a trillion dollar problem getting enough attention. american student loan debt surging now topping credit cards and auto loans. tracy: we'll. ashley: we'll have you will the very pering numbers ahead. tracy: after all that i said senator domenici's name wrong. nicole petallides is on the floor of new york stock exchange. nicole, stocks trying to hold onto this 50 point gain here. >> we're actually moving higher now. we're moving close to highs of the day. we sold off early on coming off heels of yesterday where a lot of folks were concerned about some comments from the prior day. we had harry reid and boehner gave us a boost yesterday. today we sold off and moved back and forth. we've been over the unchanged line several times today. now we're up 51 points. as we're saying we're so closely tethered to the headlines coming out of washington. when we hear about positive
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and optimism pertaining to the fiscal cliff we'll start to move higher and sell off. as far as what we're seeing on the dow jones industrials, naems like drug stocks and banks stocks. vix index, fear index, is pull off. transports are doing well. we've gotten in some same-store sales. names like koeledz, macy's, gap and target. coles as an example they're citing hurricane sandy for weak november same-store sales. look at kohl's. that is the worst of the bunch. it is down about 10% now. while they, some of them are feeling little optimistic about the black friday and the thanksgiving shopping weekend, they can't deny the fact they did lose money on the eastern seaboard pertaining to hurricane sandy. so we'll start to hear from a lot of retailers. not only retailers but so many companies directly affected by hurricane sandy. back to you. tracy: nicole petallides, i don't know, some it i think
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is a little bit of a stretch. we'll see you in 15 minutes. >> we'll see. ashley: don't blame sandy for everything. now the latest on the fiscal cliff. both parties say well, they're still waiting for specifics from the other side. sound familiar? this of course after treasury secretary tim geithner met with all four congressional leaders earlier today. there's a lot of, well, stances being taken here but we're not getting any real details. peter barnes on capitol hill with the very latest. peter? >> ashley, that's right, dueling press conferences on the progress in these talks. house speaker boehner had a conversation last night with president obama about 15 minutes long. he met with treasury secretary geithner came out this morning and came out with a press conference and said the two sides made quote, no substantive progress toward a deal to avert the fiscal cliff. speaker boehner said republicans put revenue on the table but the president and democrats haven't put enough on the table about
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spending cuts and are not serious about spending cuts. it is democrats are not serious about tax revenues. still one top democrat said, don't listen to the rhetoric. >> going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> speaker boehner this morning ssys there is no progress all you have to do is just listen to what's happening out there and you know there is progress? >> speaker boehner in his press conference said, quote, this is a moment for adult, for some adult leadership. kind of a slap at the president there, ashley. ashley: boy oh, boy. the rhetoric starting to get a little sharper with each passing day and hour. peter, on another issue what is the latest on the capitol visitors center being evacuated? >> looks like it may have
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been a false alarm. there were a number of fire trucks up here on capitol hill after the capital visitor center was evacuated. some of the streets around the capitol were closed off. our producers on the hill say the fire trucks are starting to leave. we have one report from the scanner, from the police and fire truck scanners that there may have been some smoke in the kitchen over there but it doesn't look like a serious problem but they have not started to allow the tourists to go back inside. ashley: could be just burnt toast. tracy: i was going to say. like my house, peter barnes, with latest from d.c.. tracy: smoke coming out of the toaster every day at my house. well, our next guest is the co-chair of the bipartisan policy center debt reduction task force which like simpson-bowles offered clear-cut steps for cutting the deficit long before we were even talking about the fiscal cliff. former republican senator pete domenici from new mexico joins us now. senator, we just heard from
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speaker john boehner. it is very theatrical now. we wish everybody would come to the table and get serious. who is kidding who? bipartisanship is kind of a dirty word? >> well, look, i'm not sure that the anti-bipartisanship is what is at work here. i think until you get this down to four or five people, maybe six at the most that can make the decisions, you won't get it resolved. i have been here long enough to go through a very long summit and it ended up after many participants that eight people had settled it and came together at the end and of the eight, three finally made the basic decisions. so we can't tell who's, who's meeting with who but
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what's going on now, staff are developing different programs for these members, different ideas. this one will cost this much. this one will give this much but, from my standpoint i spent an awful long time trying to convince my republican colleagues that we needed to put revenue on the table, increased revenue, and now they have unequivocally through their leader, they said they will do that. now it's time for the president as the leader of the majority party, time for him to stand up and say, we are going to reform entitlements and in a way that will save money over time by changing them over time and it's time for him to do that unequivocally. tracy: right. >> you can't dance around. there are only two parts to this they're big, they're multi-purposed but the republicans have said okay on revenue. now they have got to work on
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how much, how and the president must say, okay, on entitlements including medicare and he must tell his people, as their leader, this is what we need. without that, this country is going to have the cliff we've been talking about. ashley: right. >> and that is not the whole thing. ashley: now senator, look, will the republicans accept the expiration of the bush tax cuts for people or households making 250,000 and moore? will they accept that or is that a line in the sand? will they accepp 500,000? is there room for negotiations? >> look, i don't know but, in the end, in the end, i just told you that it will boil down to a small group. in the end, in the end the issue you have indicated will get resolved. in other words, it will get compromise. ashley: right. >> probably will surprise us what the number will be but
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it will be a number that, after many hours, somebody in a position of power can say, put that in, we'll take it. and we're not there yet. obviously. ashley: yeah. tracy: we're not even close, senator. you're probably onto something. we need a smaller group of people to talk about this. senator pete domenici, thanks for being with us. >> was i looking at the right place? tracy: yes you were. hopefully they were listening down in d.c. too. >> bye-bye. have a better hookup. bring it down. it is too high. tracy: we'll make note to tech people. >> do that. make notes to that. ashley: thank you, senator. it will come down to a few people ma'am hammering it out. how long will it go on? will it be the last minute? we could just go over the fiscal cliff. much more on the fiscal cliff ahead including tips from one high earning
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advisor on what moves to make down. tracy: how could student loans turn into a multibillion-dollar problem for taxpayers like all of us? as we do every time at this time of day, we do something every day. what she said. hey, let's look at oil. it is up $1.71. $88.19 a barrel. we'll be right back. ♪
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tracy: we're having fun already with charles payne. he is here talking superstorm sandy. unfortunately it landed hundreds of thousands of vehicles in the scrap heap. we'll look at growing demand for used cars. one of the country's biggestest dealers, charles. >> carmax got upgrade from goldman. i hate chasing goldman. they upgraded research in motion. ashley: i was going to say that. >> there is a lot to this carmax thing, even before sandy. average car is 11 years old. finance is easy to get. to your point, tracy, up to 250,000 cars, wiped out. ashley: yeah. >> the used car market is looking really pretty good right now. these guys are really, greatly positioned to take advantage of that. ashley: how has the stock been performing? >> the stock is doing fantastic. we're kind of chasing it right here. the gdp number, the only thing change in gdp was inventory. explosion in inventory. almost all of that was autos. tracy: that is interesting. we've kind of replenish in the, because remember "cash
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for clunkers" took away all the nice cars. >> that is why prices have been going up. you know what they make on used car? $2172 on used car. only make $676 on a new car. believe me. that is why, taking cars off the market just, hikes the price. supply and demand. ashley: of course. >> to a large degree people should be upset with the "cash for clunkers" things. it forces you to buy expensive used car or have recurring payments you didn't want to have. ashley: exactly. >> carmax on the verge of breaking out. it looks really good here. by the way, sandy will hike used car prices $1,000. ashley: you still think there is room? >> i have really do. this trend is not going away. easy financing. they're making money on financing, extended services and all kinds of things like that. tracy: charles, we've got to go. where do you stop out of this? >> you know what? i wouldn't use a regular stop on this one. i would say unless fundamentals deteriorated, this is one of the stocks i
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think you hold for a while, ride ups and downs. no pun intended. just slipped out. ashley: thank you, charles. >> all righty. ashley: it is coming up to quarter past the hour. as we do every 15 minutes let's go to the floor of new york stock exchange where nicole petallides is standing by. the market up nearly 50 points, nicole. >> not a bad day at all, ashley and tracy. a short time ago we were talking with apple. obviously with all its products that put a lot competition and pressure on the blackberry maker research in motion. that is something that is plaguing research in motion past couple years, right? one i phone after another and everybody is waiting for ever for the next blackberry. it is coming. on january 30th, the blackberry 10 will be released. this is a highly anticipated product. today, research in motion got a nice gift. they got a buy rating from goldman sachs. with that you're seeing the stock up nearly 6%. the a new price target. the stock is almost at $12. the price target they put is
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$16 up from nine bucks. they're saying on the street estimates for the new company, forthcoming products are just too low. they have a lot of risk/reward. they say this is good one. this is why you have the buy rating for research in motion. that's why you have an up arrow there. let's quickly take a look at advanced auto parts which is to the downside. they had an auction which fizzled. not good news in. "new york post" saying kkr is the only private equity firm in the running to buy the company. we put up apple to give you a quick peek at apple. advanced auto parts is down about 6%. however year-to-date it is still a winner, up 5%. so those are two movers we're continuing to follow here on the street. back to you. ashley: very good, nicole. thanks so much. we'll check back in 15 minutes. tracy: coming up, is more fed stimulus on the way in the new year? dear lord. how will it impact the economy, the markets and of course inflation? leading strategist bob
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pavlick weighs in next. ashley: first let's sea how the dollar is moving right now. against the euro, euro is up against the dollar. the u.k. pound still moving slightly higher against the green back. we'll be right back.
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>> 20 minutes past the hour right now i'm jamie colby with your fox news minute. it has been a week and former president george h.w. bush is still in houston's methodist hospital with a lingering cough. the 41st president's condition, not life-threatening. the doctors were initially concerned it could be or turn into pneumonia but it hasn't. president bush is 88 years old. we wish him a speedy recovery. >> a company that tracks web traffic, 12:30 p.m. eastern time syria disappeared from the internet. the first countrywide internet blackout. they are blaming the government and they are saying terrorists is responsible. >> president obama is having lunch with mitt romney. the cameras did catch a glimpse of the former republican governor arriving earlier. the white house sit-down is the first face-to-face since
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the election back on november 6th. governor romney met with his former running mate as well, congressman paul ryan. that happened earlier. those are the headlines right now here in the fox newsroom. back to tracy. tracy: jamie colby, thank you very much. >> reporter: you're welcome. tracy: oil poised to snap a three legs losing streak amid growing hopes that congress and the president can reach an agreement. maybe they know something we don't and potentially avoid the fiscal cliff. sandra smith has details in today's trade. they will think they will get it done, what? >> that's correct. the markets can tell us a lot of things and the markets are telling us maybe a deal will get done. look at the crude oil market up 2%. hear is the weekly chart. going back to the win beginning of the week it was down, down. we had consecutive daily drops in oil. we reached this low in yesterday's trading session and now we have a bid in the oil market. so there is some anticipation we'll get some sort of resolution by year's end. a nice hefty boost by a
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couple bucks today. whether or not that continues will be up for grabs. we're certainly seeing traders stepping in here on the lows and buying this market up. by the way, if you look at year-to-date chart of oil, it has been very volatile 2012 for oil. it will be interesting to see how we finish up the year. tracy and ashley, we're watching gold prices, that market is sort of anticipating either way, if we fall off the fiscal cliff or we get a deal, that will be a good thing for gold. let me bring up a weekly chart there and show you what has been going on. we have the big drop in the markets, especially heading into today. then all of a sudden the buyers stepped into the gold market. specifically after speaker boehner, we had a selloff in the commodities markets. after he got done talking the buyers stepped in. there is sort of buy on the dip mentality happening in the gold market right now. year-to-date we're looking gold up about 10%. barclays capital says we'll finish the year at 1810 a troy ounce. that is about 100 bucks where we are today. ashley, tracy, one other
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thing i want to mention as we look at commodities markets. george gero at rbc, he says buy all commodities at end of the year. owe thinks there is huge inflation story. fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying
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assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is designed to do to encourage people to go out borrow some money. go out and buy a house, and it has had very little impact on the overall economy. it has really done wonders for corporations who are going out and issuing new bonds. ashley: but they're not investing in their own businesses or hiring. >> that is the problem, exactly. if they were going out and hiring new workers or investing in plant and equipment, that would be great for the economy. but i don't see that happening. until we get real resolve to these issues going on. ashley: are you worried about inflation? >> inflation, no. ashley: hasn't been an issue up to now? >> one of the reasons we have the cap being put on us by other parts of the world such as china. we're seeing lower growth in china. we're seeing slowdown or really recession going on in europe. i think that will keep a lid
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on inflation going forward. we'll start to see inflation but i don't think it will come yet. ashley: market gyrations are thanks to talks about fiscal cliff with statements made by democrats or republicans the market reacts. it is tough to trade in this market, isn't it? >> it is. if you're a long-term investor you have to look past all the noise going on. we had all the issues really known for us for at least the last year. we continue to see greece continue to pop up, be an issue to the overall market, get people scared and out of the market. they come back in the market. we have concerns about earnings season turns out to be a non-event. we had concern about the election. turned out to be another big nonevent. all the concerns started to shift over to the fiscal cliff. now there is a big potential that that could have a drag on the u.s. economy going forward. ashley: sure. >> i don't think we get to that point though. i think that there is going to be a resolved. i do believe between now and end of the first quarter, now that is a ways away we
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get it resolved. ashley: yeah. >> i think as we approach the end of the year we hopefully get some kind of guidance by the folks down in washington they're coming to some kind of resolution on it. ashley: and assuming there is some sort of resolution, what does that do to the market? you would expect a bounce. how big of a bounce? >> absolutely. i think you will see a major bounce. you will see the market start to really recover and people investing for the next year, year-and-a-half out. what it is going to do when we get this sort of resolution it is going to clear up the concerns out there. businesses have been sitting largely on the sidelines. investors are sitting on the sidelines. you see businesses understand where their costs are going to be. ashley: actually plan. >> exactly. they can understand what kind of order flow they're going to see because because know they what is going on in europe and going on in china and i do believe you will see the market higher from a year from now. ashley: take away uncertainty. bob pavlick. >> thank you. >> appreciate it. tracy: take away
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uncertainty. ashley: would be a good thing, wouldn't it? tracy: what would we talk about? millions of americans with no paychecks are about to lose their jobless benefits for the new year? what will it do for our already fragile economy? gerri willis is on the story next. ashley: we'll look at today's winners and losers. kroger doing well with good numbers being reported today. how about marriott, up nearly 4% as well? we'll be right back. [ male announcer ] you are a business pro.
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ashley: just went past 30 past the hour, let's check on the market. nicole petallides on the floor of the new york stock exchange. how are the traders relating to thithis back and forth on the fiscal cliff.
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nicole: is here and does a good job of delving into that. >> it depends on who is coming out before the cameras are down, washington, d.c. down in washington, d.c., depends on what is coming out. they're telegraphing their signals pretty readily through the dissemination of the information we get in the various sources. your talk about the fact is they key time for cash management pertaining to companies that are all rushing to accelerate the dividend payout. >> it is extraordinary to look at the movement. the proposals are for dividends to go from 50% in the higher earners up to 40%. what we are seeing is a lot of
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cash flows to the shareholders and for the into projects and employment. people are trying to take advantage and that is what we are doing with the dividend payers. nicole: you always do a good job giving us insight in the latest and greatest on wall street. back to you guys. ashley: thank you so much, nicole. tracy: she is not wrong though. the board for social deals like groupon meeting oday. our very own shibani joshi joins us now with the details. this is like a big old saga. >> everything in the tech world is a saga. the ceo and founder of groupon company board of directors holds his fate and his future as the current ceo of the company but it seems the shareholders have already cast their vote.
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yesterday when news of the possible ouster hit a wider, we saw the share price jumped 12%. not necessarily the vote of confidence he is looking for as the board of directors meeting for a regular scheduled meeting. shareholders like the idea of letting him go and obviously there are more than just one reason why he should be getting let go other than the stock price. there have been massive accounting issues before the ipo and even after the ipo. the margins are on the decline, and national growth is slow, senior management attention is an issue and the stock price, this is the clincher for this story. the stock is down 80% since the company debuted on the public market. all of the shortcomings, saying it is in the board of directors and the companies best interest for them to address these issues, even still the right
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person for the job rea. no news yet, so we can presume he's keeping his job for the time being. ashley: thank you. some breaking news: the company moving up its dividend this. the board has approved a reprisal date of december 26, boxing day for those of us around the world. of course get it in your head for the tax hikes, another company. tracy: we have some rich news on oil, closing up $1.58, $88.07 per barrel. that actually snapped a three-day losing streak. ashley: the looming fiscal cliff hits in just about a month.
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we follow every second of that as painful as it is. many unemployed americans will lose their unemployment benefits. sounds awful if you're one of those folks, but to generous benefits prolonged joblessness. and what effect will this have on the economy as a whole? gerri willis is here to sort it all out. >> look, you're absolutely right. a lot of people falling off the unemployment world. the numbers are pretty astounding, millions of people, 40% will lose their benefits with 5 million people getting unemployment right now. the length of time to get benefits has decreased, but the cbo said if you fully extend the benefits yet again, 300,000 jobs created. maybe this is the secret job
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creation we have been waiting for from the administration. tracy: helps the economy because you go out and spend it. >> a lot of people say we have to get people motivated to find their job, growing company, come up with a new idea, kept hustling and a lot of people are nervous about what has become an entrenched jobs program, people want to see something else happen. ashley: here we go again, boehner saying they have to get serious, the white house says they have to get serious. so silly, really. says look, it will all come down to four or five lawmakers for
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people who will hash this out about compromise, why should we wait until the very last minute to see this? >> this is the way politics works. it is frustrating what is really your future tied up in this. not so long ago we had grover norquist on. said the president is going to have to back off, we have to raise taxes and low and behold the "wall street journal" ran a story saying just that, it will be a bargain. are you going to get it tomorrow? they will fuss with the income rate. that will be a part of the conversation as well. the longer it goes on, the more threat letters to the economy and the stock market because
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people don't know what to expense. one comment about the dividend story you are doing, don't forget these companies are run by big-time executives who get paid this way and are driving the chain. tracy: you can't blame them, somebody has to do it. ashley: don't miss gerri willis and m "the willis report" here n fox business. thank you. tracy: the white house using twitter as part of an arsenal in the fiscal cliff battle, but may not have been the best idea for them. ashley: we will be right back. [ male announcer ] this is jo woods' first day of rk. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way from busser to waiteto chef before opening a restaurant
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specializing in fish and me from the great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >> i am lori rothman with your
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fox business brief. shrugging off earlier losses but still sensitive to comments every last word out of there. on the fiscal cliff. securities and exchange commission has charged two retail brokers ahead of software program back in 2009. the insider trading yielded more than $1 million in profits. two men are facing criminal charges from the u.s. attorney's office. mortgage rates may have edged slightly higher last week but continued to hover near record lows. the average rate on a 30-year mortgage down below 4% all year long. that is the latest from the fox business network giving you the power to prosper.
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ashley: there's another battle brewing over the fiscal cliff, so that the congress and white house, that's what is happening on twitter. dennis kneale just turned off his phone and is ready to go. president obama, asking america to rise up and tweet. he held a new hash tag on twitter, my2k, as in it is my $2000. now it has become a thriving platform for trashing the obama plans. they've even acquire sponsorship rights, so that when people search the hash tag we see paid heritage messages opposing the obama tax hikes. an hour ago i searched my2k, the president got sandwiched between two foes.
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president obama himself had a second slot, call your members of congress, write them an e-mail, use the hash takes my2k. but then his archrival, john bennett and house speaker linking to video and saying it is not a balanced approach without spending cuts. also aspiring jeers like these. why didn't you start a hash tag for benghazi? and there is this one. i support paying my fair share, oppose paying your share as well. and how about you submit a budget that balances without tax increases, cut spending, reduce government. it is a nice idea, guys, it ain't going to happen.
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ashley: he has the voices and everything. tracy: a quarter on till, stocks as we do every 15 minutes, nicole petallides on the floor of the new york stock exchange. nicole: you can almost catch a glimpse of it. you can see somewhat of a crowd over there, just reopened. the stock was halted. some of the headlines that came in hits the volatility trading policy. if a stock moves dramatically one way or another, they halted for a few minutes and then they can regroup and reopen it. you can see it is down 3% from the headlines that came out, whether or not they have been exploring a sale, and some of those headlines came out from the "wall street journal" and now they had explored the sale
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and the longer pursuing the sale, you're seeing a dramatic move. another mover toward barnes and noble, those coming under pressure. in narrower than expected loss of revenue, they missed the analyst estimates. one area, growth in the nook division. no secret that brook brick bricr has been having challenges. ashley: a quick shout out to my mother-in-law who watches us religiously. in australia. coming up friday, happy friday to you guys, you make some mean
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fish and chips. tracy: and it is a friday. ashley: coming up, the fiscal cliff and your money. telling clients to do the exact opposite of what she tells them every other year, and she is here next. tracy: some winners and losers as we head out to break. research in motion at the top of the nasdaq winners of over 4%. we will be right back.
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ashley: student loan delinquency reach an all-time high this last quarter. our very own adam shapiro with more on this story. >> the numbers though frightening pose a lot of problems for people. one analyst said the numbers are frightening but not a signal there is a need for a bailout just yet. according to the bank of new york looking at data up to speed as of september of this year. $956 billion, some over 1 trillion. 11% seriously delinquent. by one account, that could be double because some of the slowness or deferred, so it could be a lot worse than 11% link went.
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the federally backed student loans account for 85% of the outstanding balances, there are six different programs for people who have student loan debt to modify their loans and get rid of them but to make the payment that little bit easier. roughly 150 billion privately funded student loans that are in trouble and should congress fail those people out. back to you. ashley: a growing problem. thank you very much, appreciate it. tracy: a lot of those are held by grandma and grandpa. let's talk more about the fiscal cliff and your money. income tax hikes could be worse than investors realize. top tax rates going up next year for capital gains, dividend and income. in addition to the surtax to pay for the health care law, and something that we are not talking enough about. what can you do to prepare?
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joining us, cofounder and former partner at ernst & young. i am glad you are here because we are not talking about that amendment. let's talk big picture. you advise clients basically because you don't know what will happen, how do you do that? >> be very prepared for listening to what legislation will be coming up. for instance, one of the things we are saying is deferred deductions until next year because you get a higher tax benefit for them but get yourself positions of congress passes some sort of a cap, write up charitable contributions. transferring assets to kids, that is happening in the month of december. selling securities, selling real estate will go down to the wire because it takes a lot of people to do those sorts of things.
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my gosh, one of the things, dividend income is probably the worst thing, it is literally going from the fact the state tax focusing on federal, you now get to keep 85% of every dollar of dividends you collect. january 1, you can keep $0.65.4, that is a lot less. >> that is assuming they do nothing. >> this is all baked in. the surtax, as you say, the medicare tax plus really creating another 1.2% tax on all income. all date indicate. what else will they do? if we say we will only get to have as tax exempt 28% of the municipal bond income, a
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suggestion that i would have normally look at you dividend paying stocks and maybe it would make sense to have a little bit less than dividend paying stocks. after-tax returns would be better off, but if we have catastrophic thing that says that, we don't get deductions and exemptions from the bond income, that could change that dramatically. tracy: it basically was put in place by george h. w. bush. and now it is expiring at the end of the year. this affects your other might deductions. >> it actually affects your tax. it is a phaseout of itemized deductions for high income people. that was george h. w. bush that no more taxes, s as we will deal with deductions instead.
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in that sense, for losing 3% of your deductions, 3% of your adjusted gross income, you are paying tax on 103% of your income, so it is an income tax. you're paying tax on 103% of income, your tax goes up 1.2%. tracy: there are so many idiosyncrasies. come back. >> i will, thank you. tracy: even if you don't understand it you know you have to call somebody and find out, everybody has to do something. ashley: liz claman will be taking us through the last hour of trading. find out what that means for the bottom line. from the person himself, next on
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"countdown to the closing bell."
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